Market Wrap Up: 4/10/2012

Great flush to the 50 daily moving average on the SPY. I'm expecting the bears to take the next couple of days off before returning to take this market down some more. For now look for consolidation for the next 3-5 days and go short again. Major levels on the SPY are $132.50 and $127.65. $127.65 is the most important level if it were to break, we could be looking at more than a correction, it could be a BEAR MARKET.